Basis: Latest reported fiscal quarter. Source: stored company filings and market data; unavailable inputs remain N/A.
Is the FCF payout ratio high or low?
The FCF payout ratio of 22.46% is 64% below its 5-year average of 61.56%, near the low end of its 5-year range (16.12%–256.11%).
As of the fiscal period ended Tuesday, June 30, 2026. 79.77% below its 12-month average of 111.01%.
Rolling trailing-12-month FCF payout ratio sampled each quarter; raw quarterly payout is intentionally not charted.
FCF PAYOUT RATIO
22.46%
FCF PAYOUT RATIO AVG TTM
111.01%
FCF PAYOUT RATIO AVG 3Y
104.26%
FCF PAYOUT RATIO AVG 5Y
61.56%
FCF PAYOUT RATIO AVG 10Y
N/A
FCF PAYOUT RATIO AVG 15Y
N/A
FCF PAYOUT RATIO AVG 20Y
N/A
CURRENT VS TTM AVG
-79.77%
CURRENT VS 3Y AVG
-78.46%
CURRENT VS 5Y AVG
-63.52%
CURRENT VS 10Y AVG
N/A
CURRENT VS 15Y AVG
N/A
CURRENT VS 20Y AVG
N/A
FCF Payout Ratio TTM
22.5%
Earnings Payout Ratio
72.4%
Dividend Yield
2.06%
FCF Yield
11.45%
| Year | Free Cash Flow | Dividends Paid | FCF Payout Ratio |
|---|---|---|---|
| 2025 | $5.24B | $1.16B | 22.1% |
| 2024 | ($5.37B) | $1.58B | N/A (Loss) |
| 2023 | $1.21B | $1.44B | 119.7% |
| 2022 | $2.71B | $1.57B | 58.0% |
| 2021 | $1.67B | $312.00M | 18.7% |
| 2020 | $74.00M | $236.00M |
Formula: FCF Payout Ratio TTM = trailing 4Q dividends paid / trailing 4Q free cash flow × 100
FCF payout and earnings payout:
Reading the series: Use the chart and table to compare dividend payments with cash generation over time.
FCF Payout Ratio measures trailing dividends paid as a percentage of trailing free cash flow. Unlike earnings-based payout, it compares dividends with cash generated after capital expenditures.
Expanded definitions: Investopedia, Wikipedia, Corporate Finance Institute
| DATE | FCF PAYOUT RATIO |
|---|---|
| 2026-06-30 | 22.46% |
| 2026-03-31 | 80.46% |
| 2025-12-31 | 85.00% |
| 2025-09-30 | 256.11% |
| 2024-06-30 | 79.61% |
| 2024-03-31 | 76.72% |
| 2023-12-31 | 119.73% |
| 2023-09-30 | 122.43% |
| 2023-06-30 | 95.85% |
| 2023-03-31 | 91.94% |
| 2022-12-31 | 55.63% |
| 2022-09-30 | 39.24% |
| 2022-06-30 | 29.09% |
| 2022-03-31 | 16.12% |
| 2021-12-31 | 19.15% |
| 2021-09-30 | 19.77% |
| 2021-06-30 | 31.73% |
| 2021-03-31 | 395.16% |
| 2020-12-31 | 318.92% |
| 318.9% |
| 2019 | ($958.00M) | $112.00M | N/A (Loss) |
| 2018 | ($1.91B) | $37.00M | N/A (Loss) |
| 2017 | ($2.41B) | $0 | N/A (Loss) |
| 2016 | ($859.09M) | $0 | N/A (Loss) |
| 2015 | ($485.59M) | $0 | N/A (Loss) |
| 2014 | ($1.09B) | $0 | N/A (Loss) |
| 2013 | ($784.15M) | $0 | N/A (Loss) |
| 2012 | ($126.80M) | $0 | N/A (Loss) |
| 2011 | ($56.24M) | $0 | N/A (Loss) |
| 2010 | ($51.12M) | $5.58M | N/A (Loss) |
| 2009 | ($23.93M) | $0 | N/A (Loss) |
